The Gulf region, a favorable environment for reinsurance market growth

Reinsurers and brokers operating in the Gulf are optimist as to their business growth perspectives in the region. They reckon that premium volume and exposure will witness growth higher than that of the gross domestic income. Portfolio profitability is equally poised to improve thanks to a slight reconfirmation of reinsurance terms and conditions. The Gulf region remains attractive to the reinsurers which have low exposure to natural catastrophes and who undertake intense economic activity there. Between 2006 and 2010, insurance premiums went fivefold there with life business totaling 14.9 billion USD in 2011 and possibly 18 billion USD in 2013.